The two-time MVP is currently playing under a five-year, $260 million deal. Jackson's current deal runs through 2027, but if the Ravens sign him to an extension, they can reallocate some of the money to avoid too massive a cap hit.

The Baltimore Ravens "would love" to sign Lamar Jackson to a new contract before the start of the 2025 season, according to The Athletic's Jeff Zrebiec. Jackson is currently set to play under a $43.5 million cap hit in 2025 before his annual cost increases to $74.